Three government-run companies are set to form a joint venture (JV) to take over the management of Jakarta’s Kota Tua area from the city in a bid to improve facilities and boost historical tourism in the capital.
City-owned PT Jakarta Tourisindo (JXB) and PT Moda Integrasi Transportasi Jabodetabek (MITJ) and state-owned Indonesia Tourism Development Corporation (ITDC) signed in Jakarta on Wednesday a heads of agreement (HoA) to form the unnamed JV.
The three firms pledged in a joint statement that they would develop Kota Tua into “an integrated, modern tourism site that retains its historical value and strengthens Jakarta’s status as one of the most historical tourism destinations in Indonesia.” They did not specify when the JV would be formed.
In managing Kota Tua, hotel company JXB plans to arrange events, transportation firm MIT...
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